K11 MUSEA turnover rises 40% amid luxury brand upgrades

New World Development reported significant growth for its K11 MUSEA retail complex in Hong Kong. During the first half of the year, turnover increased by approximately 40% year-on-year, marking a record high for the same period since its opening.

During the National Day Golden Week, tourist consumption at the venue rose by 26%. The brand upgrade strategy has driven notable growth in specific sectors: international luxury brand member sales surged 75%, while the athleisure category saw a 279% increase in member spending. This growth was bolstered by the opening of the Greater China flagship for Alo Yoga, as well as new locations for Prada, Miu Miu, and Max Mara.

In the residential sector, the Pavilia series has generated over 6.7 billion HKD in cumulative cash from resales. In mainland China, New World Development has reached the topping-out stage for the Zhen Yue phase of the New World 188 project in Shenzhen and has officially named its Nanshan Xili project THE BAY PAVILIA.